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31 Jan 2025 07:00
For immediate release | 31 January 2025 |
ALLIANCE PHARMA
("Alliance", "Company" or the "Group")
Full Year Trading Update
Alliance Pharma plc (AIM: APH), the international healthcare group, announces its unaudited trading update for the year ended 31 December 2024 (the "Period"), ahead of the announcement of the Group's audited results.
The Group delivered see-through1 revenues in the Period of £180.3m (FY23: £182.7m), down 1% versus the prior period and up 1% at constant exchange rates ("CER"). Whilst revenues declined in some of our brands, we delivered strong performance in Kelo-Cote, MacuShield, Hydromol and Forceval.
Kelo-Cote franchise revenues grew 6% CER to £65.4m (FY23: £63.2m) in-line with previous guidance of mid-single digit revenue growth. Whilst we remain committed to moving to smaller, more regular orders in China, this is taking longer than we anticipated. Nizoral revenues declined 21% CER to £16.4m (FY23: £21.7m) due to the timing of distributor orders. Amberen revenues declined 7% CER to £10.1m (FY23: £11.2m). Other Consumer declined 2% CER to £38.8m (FY23: £40.3m) with a strong performance in MacuShield (+11% CER) offset by weakness in Lefuzhi and Ashton & Parsons. Consequently, total see-through Consumer Healthcare revenues declined 2% CER to £130.7m (FY23: £136.4m).
Prescription Medicine revenues increased 8% CER to £49.6m (FY23: £46.3m). Forceval delivered another solid performance with revenues up 20% CER to £7.9m (FY23: £6.6m), Hydromol revenues increased 14% CER to £10.3m (FY23: £9.0m) and other prescription medicine revenues showed strong recovery as previously out of stock products became available.
The Board continues to anticipate that underlying Group profit in FY 2024 will be in line with FY 2023.
Nick Sedgwick, Chief Executive Officer of Alliance, commented:
"I am pleased that performance in 2024 is in-line with expectations. Whilst we have much to do as we work on our transformation plans, I am confident that our strong portfolio of clinically differentiated brands will deliver predictable organic revenue growth over the mid-long term."
1 See-through revenue includes sales from Nizoral as if they had been invoiced by Alliance as principal. For statutory accounting purposes the product margin relating to Nizoral sales made on an agency basis is included within Revenue, in line with IFRS 15.
For further information:
Alliance Pharma plc | + 44 (0)1249 466966 |
Cora McCallum, Head of Investor Relations & Corporate Communications | + 44 (0)1249 705168 |
ir@allianceph.com |
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Burson Buchanan | + 44 (0)20 7466 5000 |
Mark Court / Sophie Wills |
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alliancepharma@buchanan.uk.com |
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Deutsche Numis (Nominated Adviser and Joint Broker) | + 44 (0)20 7260 1000 |
Freddie Barnfield / Duncan Monteith / Sher Shah |
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About Alliance
Alliance Pharma plc (AIM: APH) is a growing consumer healthcare company. Our purpose is to empower people to make a positive difference to their health and wellbeing by making our trusted and proven brands available around the world.
We deliver organic growth through investing in our priority brands and channels, in related innovation, and through selective geographic expansion to increase the reach of our brands. Periodically, we may look to enhance our organic growth through selective, complementary acquisitions.
Headquartered in the UK, the Group employs around 285 people based in locations across Europe, North America, and the Asia Pacific region. By outsourcing our manufacturing and logistics we remain asset-light and focused on maximising the value we can bring, both to our stakeholders and to our brands.
For more information on Alliance, please visit our website: www.alliancepharmaceuticals.com
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